Banca Comerciala Romana - Senior non-preferred bonds(f) (EBRD-51399)

Countries
  • Romania
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 18, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BANCA COMERCIALA ROMANA SA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 29.13 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 125
Converted using 2019-12-18 exchange rate.
Project Cost (USD)
$ 139.82 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 600
Converted using 2019-12-18 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 21, 2020

Disclosed by Bank Dec 18, 2019


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Project Description

According to the Bank's website, this project finances the purchasing of RON 125 million worth of preferred bonds issued by Banca Comerciala Romana (BCR), as part of a total issuance of RON 600 million. The bonds have a 7-year maturity and will be listed on the Bucharest Stock Exchange. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

BCR is the second largest bank in Romania by total assets, with 15% market share as of end-2018. In 2018, BCR reported total assets of EUR 15.4 billion. BCR is 99.88% owned by Erste Group Bank. It is rated Baa3/stable by Moody's and BBB+/stable by Fitch. The senior non-preferred bond issuance placed by BCR is rated BBB+ by Fitch.

Contact Information

No contact information available at time of writing. 

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.